Source: African Development Bank Group (AfDB) |

Our journey to electrify the continent: Five years of the New Deal on Energy for Africa (By Dr. Kevin Kariuki)

The NDEA called for a substantial increase in investments to realize the Bank’s High 5 priority to “Light Up and Power Africa”

By Dr. Kevin Kariuki Five years into the African Development Bank’s (https://www.AfDB.org/) ambitious New Deal on Energy for Africa (NDEA), the Bank’s investments are set to provide electricity access to around 13 million people and deliver about 55,000 km of distribution lines, and 6,700 km of transmission lines, of which…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Infrastructure Fund Africa50 helps Egypt’s Solar Power Sector take off

Africa50 is an independent infrastructure fund, focused on high-impact projects mostly in the energy and transport sectors

A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore. Thirty international infrastructure developers got behind this project, investing in Egypt’s massive Benban solar park, which will be the largest in…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves 225 million euros budget support loan for electricity sector to bolster economic resilience and sustainability amid COVID-19

The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the COVID-19 pandemic

The Board of Directors of the African Development Bank (https://www.AfDB.org/) on Wednesday approved a 225 million euros loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

The “High 5s”: A strategic vision and results that are transforming Africa

Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives

For the past ten years, Africa has recorded some of the world’s strongest rates of economic growth. At the same time, many African economies continue to function at well below their full potential. Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives. The African…

Source: African Development Bank Group (AfDB) |

Madagascar: Government of Madagascar gets Euro 4 million from African Development Fund for Sahofika hydropower project

The Sahofika project is located on the Onive River, 100 km southeast of the capital Antananarivo

The African Development Fund has approved a 4.02 million euro loan with a grant component to finance the Government of Madagascar’s 30 million euro equity investment in the Sahofika hydropower project, which will generate affordable, clean energy benefitting some 8 million people. The Sahofika project is located on the Onive…

Source: African Development Bank Group (AfDB) |

African Development Bank welcomes $10 million Clean Technology Fund investment to diversify Ethiopia’s energy mix

With this investment, CTF becomes the first progressive geothermal Independent Power Producer (IPP) in Ethiopia

The African Development Bank (www.AfDB.org) has welcomed a decision by the Trust Fund Committee of the Clean Technology Fund (CTF) (https://bit.ly/3dpAuyj), one of two funds within the Climate Investment Funds (CIF) (https://bit.ly/3fvTSeP), to extend a $10 million concessional senior loan for development of the 50 MW Tulu Moyo Geothermal Power Plant project…

Source: African Development Bank Group (AfDB) |

African Development Bank’s Sustainable Energy Fund for Africa (SEFA) grants $760,000 to develop small-scale renewable energy projects across Sub Saharan Africa

Through its Empower Invest fund, EmNEW invests in small and medium-scale renewable energy projects in Africa

The African Development Bank (www.AfDB.org) -managed Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/2XB5zug), has approved a $760,000 grant to Empower New Energy AS (EmNEW), to develop at least eight small renewable energy projects with capacity ranging from1-10 MW, towards bankability and construction.  The grant will support a broad range of…

Source: African Development Bank Group (AfDB) |

African Development Bank to provide underserved communities in Nigeria with sustainable energy solutions

The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to achieve the target of universal energy access by 2030

The African Development Bank (www.AfDB.org) and the Government of Nigeria have launched the National Electrification Project (NEP), to address critical energy access deficits by channeling private sector investments into mini grid and off-grid solutions. The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Fund approves close to $35 million to the Government of Liberia for renewable energy

The ceremony was attended by officials from government, the Rural Renewable Energy Agency (RREA), the National Investment Commission (NIC), development partners and other stakeholders

The African Development Fund has approved a $34.74 million grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia. At a signing ceremony on 29 January in Monrovia, Dr. Orison Amu, the African Development Bank’s (AfDB.org) Country Manager in Liberia, and Samuel Tweah Jr.,…

Source: African Development Bank Group (AfDB) |

Ride the wave of the African Continental Free Trade Area, African Development Bank president Adesina Urges United Kingdom (UK) investors

The Bank’s chief argued that Africa and the UK should be significant trading partners

Africa is on the cusp of unmatched economic transformation, and the UK must engage in a “partnership of change,” African Development Bank (https://www.AfDB.org/) President Akinwumi Adesina said Tuesday in a keynote address at a UK Parliamentary Symposium. “The Africa of the 21st century is very different. The Africa of the…